Page 32 - 5.3 i. Taxation ITC Summarised Notes part 2
P. 32

ITC EXAM PREP



                                 Capital Allowances & Recoupments








                       Topic                                                     Section



                       Use of the             • S 11(e): Wear-and-tear allowance (read with

                       asset                      Interpretation Note47 /Commissioner’s public
                       (allowances)               notice)

                                              • S 12B: Special wear-and-tear allowance

                                              • S 12C: Special wear-and-tear allowance
                                              • S 12E: Deductions in respect of a small business

                                                  corporation

                                              • S 13: Deduction in respect of buildings used in a

                                                  manufacturing process
                                              • S 13sex:Residential units

                                              • S 13quin:Deduction in respect of commercial

                                                  buildings
                                              • Ss24I and 25D: Foreign currency transactions






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